Grants and other liabilities

6 Months Ended

Jun. 30, 2021

Grants and other liabilities [Abstract]

Grants and other liabilities

Note 16. - Grants and other liabilities

	Balance as of June 30,		Balance as of December 31,
	2021		2020
	($ in thousands)
Grants		999,258		1,028,765
Other Liabilities		222,444		201,002
Grants and other non-current liabilities		1,221,702		1,229,767

As of June 30, 2021, the amount recorded in Grants primarily corresponds to the ITC Grant awarded by the U.S. Department of the Treasury to Solana and Mojave for a total amount of $658 million ($674 million as of December 31, 2020). The amount recorded in Grants as a liability is progressively recorded as other income over the useful life of the asset.

The remaining balance of the “Grants” account corresponds to loans with interest rates below market rates for Solana and Mojave for a total amount of $339 million ($352 million as of December 31, 2020). Loans with the Federal Financing Bank guaranteed by the Department of Energy for these projects bear interest at a rate below market rates for these types of projects and terms. The difference between proceeds received from these loans and its fair value, is initially recorded as “Grants” in the consolidated statement of financial position, and subsequently recorded progressively in “Other operating income”.

Total amount of income for these two types of grants for Solana and Mojave is $29.4 million for the six-month periods ended June 30, 2021 and 2020 (Note 20).

Other liabilities primarily include $52 million of non-current finance lease liabilities and $106 million of dismantling provision as of June 30, 2021 ($52 million and $88 million as of December 2020, respectively).